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Iran pays threat actor’s ransom after cyber attack on nation’s banking system

Iran has reportedly paid threat actors millions in ransom after a cyber attack last month targeted the country’s banking system.

user icon Daniel Croft
Thu, 05 Sep 2024
Iran pays threat actors ransom after cyber attack on nations banking system
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A threat group called IRLeaks last month targeted the nation’s banking system, threatening to sell the data it exfiltrated. Data reportedly included the credit card and personal data of millions of Iranians.

The attack targeted the Central Bank of Iran (CBI) alongside a number of other banks, whose ATMs were plastered with political notes.

“Dear customers, it is not possible to withdraw money from the bank because all of Iran’s budget and national resources have been invested in the war for the benefit of the corrupt regime of the Islamic Republic,” the notes said.

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IRLeaks, a group known for targeting Iranian organisations, demanded US$10 million (roughly A$14.9 million) in crypto for the deletion of the data.

Release of the data would be problematic for the country, which is under pressure thanks to international sanctions. Additionally, Iranian media suggested that the attack could be the largest ever on the nation’s state infrastructure to date.

Now, according to sources close to the matter speaking with media, the threat actors agree to US$3 million (roughly A$4.5 million) in ransom, which has been paid by an Iranian company, despite the nation never formerly acknowledging the attack.

The attack comes as tensions in the Middle East continue to intensify and criticism of Iran’s actions is heightened.

Last month, Iran’s Supreme Leader Ayatollah Ali Khamenei vowed revenge after Hamas leader Ismail Haniyeh was assassinated.

Leaders of France, Germany, and the UK responded with a joint statement, saying that Iran “will bear responsibility” for any actions it takes against Israel.

All three country’s leaders has called for Iran to abstain from launching attacks on Israel, emphasising the risk of jeopardising ceasefire negotiations between it and Hamas.

Daniel Croft

Daniel Croft

Born in the heart of Western Sydney, Daniel Croft is a passionate journalist with an understanding for and experience writing in the technology space. Having studied at Macquarie University, he joined Momentum Media in 2022, writing across a number of publications including Australian Aviation, Cyber Security Connect and Defence Connect. Outside of writing, Daniel has a keen interest in music, and spends his time playing in bands around Sydney.

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